Robinhood, AppLovin Join S&P 500; Loandepot Soars; Oracle Upgraded

S&P 500 Index Additions

• 🚀 Robinhood is set to join the S&P 500 index on September 22nd, a move that signifies its transition from a disruptor to a Wall Street pillar, expected to benefit from passive investment inflows.
• 💡 AppLovin, a mobile app marketing company, will also be added to the S&P 500, contributing to its gains and doubling its value since its April low.
• ⚠️ Micro Strategy, a Bitcoin holding company, was notably excluded from the index, leading to a pre-market share drop, despite speculation that its inclusion might follow Coinbase's addition.

Housing Market Boost

• 🏠 Loandepot experienced a significant rally, soaring to its highest point since November, fueled by speculation that the Trump administration might implement extraordinary measures to address the housing crisis.
• 📈 Mortgage servicing companies, including Loandepot and Rocket Mortgage, have benefited from this optimism regarding potential government intervention.
• 📊 Interest-rate sensitive homebuilder stocks also saw gains as yields on 10-year Treasuries declined following softer-than-anticipated jobs data.

Oracle's Price Target Increase

• 📈 Oracle is trading higher after receiving price target upgrades from major financial institutions including JPMorgan, Morgan Stanley, and Barclays.
• 🔑 The company is also highlighted as the largest to report earnings this week, offering a key glimpse into the tech sector's performance.